2024 Ira Tax Limit. You may be able to claim a deduction on your individual federal income tax return for the amount you contributed to your ira. The maximum amount you can contribute to a roth ira in 2023 is $6,500, or $7,500 if you’re age 50, or older.

The roth ira contribution limit for 2024 is $7,000 for those under 50, and $8,000 for those 50 and older. The maximum amount you can contribute to a roth ira for 2024 is $7,000 (up from $6,500 in 2023) if you’re.